- The Budget
Now that you have completed estimating, work breakdown, critical path analysis, and risk assessment for your project, you can begin to develop your project budget.
F1. You create a resource cost profile below, based on discussions with Tom Johnson and members of the HR department. Use the per diem rates provided, to prepare a, Excel costing worksheet for the 24×7 work week components of your project.
Exhibit F1. Resource Cost Profile
F2. Based on your critical path analysis, convert your costing worksheet into a monthly budget for your project (identify the months from “month 1” to completion), building a 10% risk contingency into the budget for each month, and an additional contingency pool of 10% for the project overall. What is the budget for the 24×7 work week components of the project?
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